Clark Nevada Stock Pledge Agreement by Portola Company IV LLC for Portola Packaging, Inc.

• Category: Corporations - Public - Stocks
• State: Multi-State
• County: Clark
• Control #: US-EG-9024
• Format: Word; Rich Text

Description

Amended and Restated Stock Pledge Agreement between Portola Company IV, LLC in favor of Portola Packaging, Inc. dated October 4, 1999. 11 pages The Clark Nevada Stock Pledge Agreement is a legally binding document created by Tortola Company IV LLC for the benefit of Tortola Packaging, Inc., outlining the terms and conditions related to the pledging of stock as collateral for a loan or other financial arrangement. This agreement is designed to protect the interests of both parties involved. The Clark Nevada Stock Pledge Agreement serves as a security arrangement wherein Tortola Company IV LLC pledges a certain number of shares in Tortola Packaging, Inc. as collateral for a loan or other obligations. By doing so, Tortola Company IV LLC agrees to transfer ownership of the pledged stock to the lender (Tortola Packaging, Inc.) if certain conditions specified in the agreement are not met, such as defaulting on loan payments. The agreement details various aspects related to the pledged stock, such as the number of shares, their value, and the percentage of ownership they represent. It establishes the rights and obligations of both parties, including the lender's rights to exercise voting rights and receive dividends during the term of the agreement. Furthermore, the Clark Nevada Stock Pledge Agreement outlines the conditions under which the pledged stock can be released back to Tortola Company IV LLC. This may occur once the loan or other obligations are fully satisfied, or if specified events, such as a merger or acquisition, take place. It is important to note that there may be several types or variations of the Clark Nevada Stock Pledge Agreement by Tortola Company IV LLC for Tortola Packaging, Inc., depending on the specific terms agreed upon by both parties. For example, there could be agreements with different maturity dates, interest rates, or additional terms and conditions. In conclusion, the Clark Nevada Stock Pledge Agreement is a crucial legal document intended to safeguard the interests of Tortola Packaging, Inc. when providing financial assistance to Tortola Company IV LLC. By pledging stock as collateral, this agreement ensures that the lender has a means of recovering its investment in the event of default or non-compliance.

The Clark Nevada Stock Pledge Agreement is a legally binding document created by Tortola Company IV LLC for the benefit of Tortola Packaging, Inc., outlining the terms and conditions related to the pledging of stock as collateral for a loan or other financial arrangement. This agreement is designed to protect the interests of both parties involved. The Clark Nevada Stock Pledge Agreement serves as a security arrangement wherein Tortola Company IV LLC pledges a certain number of shares in Tortola Packaging, Inc. as collateral for a loan or other obligations. By doing so, Tortola Company IV LLC agrees to transfer ownership of the pledged stock to the lender (Tortola Packaging, Inc.) if certain conditions specified in the agreement are not met, such as defaulting on loan payments. The agreement details various aspects related to the pledged stock, such as the number of shares, their value, and the percentage of ownership they represent. It establishes the rights and obligations of both parties, including the lender's rights to exercise voting rights and receive dividends during the term of the agreement. Furthermore, the Clark Nevada Stock Pledge Agreement outlines the conditions under which the pledged stock can be released back to Tortola Company IV LLC. This may occur once the loan or other obligations are fully satisfied, or if specified events, such as a merger or acquisition, take place. It is important to note that there may be several types or variations of the Clark Nevada Stock Pledge Agreement by Tortola Company IV LLC for Tortola Packaging, Inc., depending on the specific terms agreed upon by both parties. For example, there could be agreements with different maturity dates, interest rates, or additional terms and conditions. In conclusion, the Clark Nevada Stock Pledge Agreement is a crucial legal document intended to safeguard the interests of Tortola Packaging, Inc. when providing financial assistance to Tortola Company IV LLC. By pledging stock as collateral, this agreement ensures that the lender has a means of recovering its investment in the event of default or non-compliance.